On Wednesday, the research analysts at Cantor Fitzgerald sent a letter to investors in which they reaffirmed their “overweight” recommendation for the shares of Arcus Biosciences (NYSE: RCUS). According to PriceTargets.com, the letter was included in the publication. According to the projections made by Cantor Fitzgerald, Arcus Biosciences will report earnings of ($4.07) per share for the fiscal year 2022 and earnings of ($4.70) per share for the fiscal year 2023.
Additional equity analysts have weighed in with their opinions on the company at issue as well. In a research note published on Thursday, August 18th, Citigroup announced that it would lower its price target for Arcus Biosciences from $40.00 to $40.00. The previous price target was $40.00. In a research note published on Friday, July 8th, Truist Financial lowered their price target for Arcus Biosciences from $70.00 and their “buy” rating, which they had previously assigned to the company. The new price target is $50.00. Finally, the price target that SVB Leerink has set for Arcus Biosciences has decreased from $60.00 to $49.00 due to a research note published on Thursday, August 4th. Despite this modification, they did not alter the rating of “outperform” they had previously assigned to the stock.
Last but not least, Wedbush lowered its price objective on Arcus Biosciences from $42.00 to $36.00 in a research note published on Thursday, August 4th. Despite this modification, the company continued to assign an “outperform” rating to the stock. According to data provided by Bloomberg, seven market analysts have suggested to investors that they should purchase the stock. According to what the market believes, the rating for Arcus Biosciences is “Buy,” and the price target, according to the market beliefs, is $47.13.
Wednesday marked the first day of trading for the NYSE: RCUS and the opening price was $25.21. The stock price of Arcus Biosciences has seen a one-year low of $16.74 and a one-year high of $49.10 over the past year. Given the company’s market value, which is $1.82 billion, its P/E ratio, which is 35.51, and its beta value, which is 0.75, the company has adequate financial resources. The stock’s price is currently trading at $26.14, and its simple moving average for the past 50 days shows that it has been trading at $26.60 over the past 200 days.
Arcus Biosciences, whose shares are traded on the New York Stock Exchange (NYSE) under the ticker symbol RCUS, disclosed its most recent earnings report on August 3rd. The company’s quarterly earnings came in at the same level as the average estimate, which was $0.93 per share for earnings per share earned by the company. The return on equity for Arcus Biosciences was 9.12%, and the net margin for the company was 16.34%. The revenue for the quarter was $26.76 million, which is substantially higher than the average expectation of $21.00 million, which was provided earlier. The company had $1.09 per share in the same period the year before compared to the current year. According to industry analysts’ predictions, Arcus Biosciences is expected to have -4.15 cents per share for the current fiscal year. This is because Arcus Biosciences is expected to have a loss for the current fiscal year.
As reported in other Arcus Biosciences-related news, Jennifer Jarrett, Chief Operating Officer of Arcus Biosciences, sold 12,677 shares of the company’s stock on Friday, September 16th. The total value of the traded stock was determined to be $333,151.56, resulting in an average price of $26.28 per share paid for the transaction. After the deal’s completion, the chief operating officer will be the owner of 130,942 company shares, each of which has a value of $3,441,155.76. Another party previously owned these shares. One can access the legal file containing the disclosure of the transaction by going to the Securities and Exchange Commission (SEC) website. The company’s insiders control a total of 12.70% of the company’s shares.
In recent years, significant shareholders in the company have been active in taking action to bring about change. Captrust Financial Advisors increased its stake in Arcus Biosciences by 402.9 percent during the second quarter. The most recent fiscal quarter saw Captrust Financial Advisors acquire an additional 1,660 shares of the company’s stock, bringing their total number of shares owned in the company to 2,072, with a value of $53,000 for those shares. In addition, arcusIn addition, arcus Biosciences received new investment from Lazard Asset Management LLC for $76,000 during the first three months of 2018. Islay Capital Management LLC increased its stake in Arcus Biosciences by purchasing additional shares during the second quarter. This brought the total value of the firm’s investment in the business to approximately $89,000. During the second quarter, KBC Group NV increased its stake in Arcus Biosciences to 100 percent with an additional investment of approximately 102 thousand dollars. This brought the company’s total investment to 102 thousand dollars. Last but certainly not least, Virtus ETF Advisers LLC increased the percentage of Arcus Biosciences stock owned by 27.2% during the second quarter. This certainly should not be considered the least important development. After acquiring an additional 1,075 shares during the most recent period, Virtus ETF Advisers LLC now has 5,029 shares of the company’s stock. 72.61% of the total number of shares issued by the company are held in ownership by institutional investors and hedge funds, respectively.
Arcus Biosciences, Inc. is a biopharmaceutical company currently in the clinical stage. They are a provider of cancer medicines in the United States, as well as developing new treatments for the disease. In clinical research about Phase 1b, an anti-PD-1 antibody known as zimberelimab is currently being evaluated for use as a monotherapy drug in clinical research. In addition, Etrumadenant is a dual A2a/A2b adenosine receptor antagonist. These are only two of the compounds that are currently being researched and developed.